Hyderabad: The State government has urged banks to avoid delays in releasing farm loan waiver benefits to farmers. According to Agriculture Minister T Nageshwara Rao, banks are responsible for correcting any technical errors in the information provided by farmers. On Tuesday, Rao appealed to the bankers to meet their targets without further delay.
The minister highlighted that the government has already released Rs 18,000 crore to banks for the farm loan waiver scheme. However, only Rs 7,500 crore has reached the farmers so far. During the SLBC (State Level Bankers Committee) meeting on Tuesday, Rao urged bankers to instruct their branch managers, especially those in villages, to rectify mistakes in farmers’ loan accounts. This would ensure that farmers can benefit from the loan waiver without any further delay.
Rao emphasized the importance of the bankers acting responsibly. He pointed out that holding the SLBC meeting every three months without achieving meaningful outcomes is a waste of time. He stressed that the scheme’s benefits should reach the poorer sections and marginalized communities.
Deputy Chief Minister and Finance Minister Mallu Bhatti Vikramarka also addressed the bankers, urging them to approach their duties with concern rather than focusing solely on statistics. He noted that even a one-week delay in the loan waiver could prevent the intended benefits from reaching farmers. Vikramarka reiterated that agriculture is the backbone of the State, and the government is providing support to farmers through the loan waiver and Rythu Bharosa schemes. He mentioned that funds are also being allocated to complete major and medium irrigation projects.
In addition to agriculture, Vikramarka said that the government is prioritizing the industrial sector and is implementing innovative policies. He highlighted that small and medium-scale industries have the potential to create large-scale employment opportunities. Therefore, he urged bankers to extend loans on a large scale to these industries.
Lastly, Vikramarka sought the cooperation of bankers in providing interest-free loans to Self Help Groups (SHGs) under the Indira Mahila Shakti Scheme to foster industrial development. He noted that the government plans to provide Rs 1 lakh crore in interest-free loans to SHGs over the next five years.
